Wanting to study in the USA but worried about budget? Don’t worry, in this article, we will share the estimates of all the possible expenses that will occur during your stay in the USA.
The USA is a very prominent study abroad destination among students from all across the world. It has more than 5,000 universities and colleges offering thousands of courses at undergraduate, postgraduate, and doctorate levels.
USA universities are some of the top-notch universities offering first-class academic education to their students. More than 1 million international students are currently studying in the top USA universities.
The education system of the USA is considered the best among all. Many other small countries also follow US-based education systems.
USA universities offer an excellent education infrastructure along with first-class academic teaching and research practices.
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The USA is a very prominent study abroad destination among students from all across the world. It has more than 5,000 universities and colleges offering thousands of courses at undergraduate, postgraduate, and doctorate levels.
USA universities are some of the top-notch universities offering first-class academic education to their students. More than 1 million international students are currently studying in the top USA universities.
Now, Let’s discuss some of the top reasons that have made the USA, one of the top international student destinations.
USA is home to some of the world’s top universities in the world. According to the QS world ranking, the top 4 usa universities are MIT, Harvard University, Stanford University, and Caltech.
Times Higher Education featured 7 of the USA universities in its top 10 universities ranking in the world.
In the USA, you will have tons of opportunities for working while studying. You are allowed to do part-time jobs along with study to help yourself deal with your living expenses in USA.
Also, USA universities offer many on-campus internships to the students to help them in enhancing their experience in the real world and get access to better-paying jobs in the future.
Studying from the USA universities proves as a great advantage for the Indian students looking for high-paying jobs in India specifically.
Having a degree from any of the top universities of the USA holds good on your CV and increases your value as an employee in your home country, like India. It opens doors for you that lead you to the top career opportunites in the international world.
But can everyone afford to study in the USA, obviously not.
Just with some beforehand budget management, you can eliminate this obstacle from your way to achieve your dream of studying abroad.
Before applying to any university you first need to consider the tuition fees at all types of USA universities and then choose according to your budget.
The average tution fee per student is ranging between $8,000 to $55,000 per year and the fees vary depending on the program and type of university the student is enrolling in.
Public universities in the USA have comparatively lower tuition fees than private institutions.
Also, programs like humanities, arts, and language courses are less expensive, on the other hand, profeesional degrees like engineering, law, medicine, and MBA courses are more expensive.
If you are a student with a low budget and can’t afford the high tuition fees for your studies then you also apply for various fully or partially funded scholarships available for the Indian students
The accommodation costs are the costs one obviously can not ignore whether one choses to stay in an on-campus residence or a rental apartment on his own. He will always have to bear some of the cost of his stay in the USA.
However, the on-campus residence provided by the universities is comparatively less expensive than owning yourself a rental apartment. Living in a rental apartment comes with many other additional costs like electricity bills, water usage bills, internet and tenant’s insurance, etc.
Students also sometimes prefer sharing their apartments with other students to lessen the burden of the rent and all expenses.
The average cost of accommodation in the USA is around $6,000-$14,000 per year and it varies from city to city.
One’s living expenses completely depend on his lifestyle. If he prefers a posh and high standard lifestyle then obviously it will cost loads of money, on the other hand, if one prefers living a simple life and focus more on study than enjoyment, then you can easily manage your costs.
Below are some of the expenses you should consider when creating your budget:
To sum up, the total average cost of all living expenses of a single student will be around $10,000-$20,000 per year.
Unless you are preferring to stay in an on-campus residence, you will have to rely on the public transport service. You can get monthly passes for the subays, trains, and buses to get discounts on your transportation expenses.
Also for travelling between cities you can avail yourself of long-distance buses, rails, and airways.
Studying abroad asks for a study permit for every international student. So in order to study in the USA, you will first have to secure a student visa and for that, you will have to pay an application visa fees which can costs you $160
It is compulsory for all Indian students planning to study in the USA to get medical insurance for themselves before the commencement of their program.
Many universities offer medical insurance plans to their international students, so a student can consider applying for the same. But if your institution isn’t providing any health support or insurance to the students then you can consider applying for private medical insurance.
As per the American college association, the average costs of a student health insurance plan range between $1,500-$2,500 per year.
International students in the US are allowed to work 20 hours per week during their academic sessions and full-time during their vacations.
So, if you are planning to work while studying in the USA, then the income you are going to earn from your job might be taxable so make sure that you don’t ignore that and pay your taxes on time.
If you are a student with a low budget and can’t afford the high tuition fees for your studies then you can also apply for various fully or partially funded scholarships available for the Indian students
Many prestigious universities provide financial aid to students from a financially weak background wanting to study in the USA. The University of Pennsylvania, for instance, collects around $9 million every academic year to help undergraduate foreign students seeking financial help.
Students usually apply for scholarships along with the submission of their applications. You can find every piece of information relating to aid opportunities at the official website of universities. So you can check the university’s official website before applying and consider the most appropriate scholarship for you.
Students worrying about the budget can now easily calculate beforehand how much they could expect studying in the USA will cost them.
All the universities are now allowing the students to check the tuition fees along with the financial aid on the university’s official websites through the net price calculators which can be assessed via the government’s college affordability ad transparency center.
Students with the help of the calculator can get the idea of how much the program he or she is enrolling in would cost and how much financial aid they can get.
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